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The Canola Council of Canada is urging the federal government to resolve China's block on Canadian canola imports as the one-year anniversary approaches. Canola seed exports to China fell about 70% in 2019, an estimated $1 billion in lost revenue.
The council also wants more support for diversifying into other Asian markets and domestic biofuel use.
China's ongoing block removes a major buyer of Canadian canola, keeping Canadian seed supplies pressured toward other markets. Continued uncertainty weighs on canola basis and feeds the industry's push to diversify demand.
canolacouncil.orgCanola CouncilFeb 26, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
